Category Credit crisis

One solution to the mortgage crisis

An ex-Countrywide honcho is buying mortgages for pennies on the dollar, then offering distressed homeowners greatly reduced monthly payments. Kurland’s new company, PennyMac (!), goes to a demolished bank or the FDIC and buys up delinquent mortgages at, say, 20…

Iceland’s government collapses

This comes as no surprise. Their economy is in tatters and protests have been increasing both in numbers and intensity. At a rally Monday outside Parliament, protester Svginn Rumar Hauksson said demonstrations won’t end yet. “The protests will continue until…